AOMORI, JAPAN : Japan is unlikely to see inflation hit the central bank's 2 percent target over the next 2-1/2 years as consumer spending remains weak and China's slowdown hurts exports, Bank of Japan board member Takahide Kiuchi said on Thursday.
"I think the price target of 2 percent is well above the level consistent with Japan's current growth potential," Kiuchi said in a speech to business leaders in Aomori, northern Japan.
The BOJ has kept monetary policy steady since October last year. Kiuchi, a former market economist, has been the lone board member to advocate tapering the BOJ's massive asset purchases on concern the cost of the programme was already exceeding the benefits.
Source : economictimes.indiatimes.com
